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Thursday, July 19, 2018

DGCA officials suspended for causing loss to AAI

The sources said the minister accepted some of the recommendations made by the CVC earlier this week.

Written by ENS Economic Bureau | New Delhi | Published: March 3, 2012 12:57:04 am

The government on Friday ordered suspension of a top officer of aviation regulator DGCA and two other staffers on charges of causing a loss of Rs 190 crore to the public exchequer by granting undue concessions to 28 flying schools across the country.

Civil Aviation Minister Ajit Singh,who reviewed the case relating to granting of concessions to the flying schools in 2007 that was probed by the Central Vigilance Commission,ordered suspension of DGCA’s Joint Director General A K Saran (then Deputy DG),and two other junior staff members — Parveen Kumar and Assistant D S Sada,official sources said.

The Airports Authority of India (AAI) have also been directed by Singh to take steps to recover Rs 190 crore from these flying clubs.

The sources said the minister accepted some of the recommendations made by the CVC earlier this week.

RIL hikes stake in EIH to 18.53%

Reliance Industries is consolidating its stake in hospitality firm EIH Ltd which runs the Oberoi-Trident hotel chain in India. RIL hiked its stake in the compnay by 3.73 per cent to 18.53 per cent by picking additional 2.13 crore shares worth Rs 192 crore through an open market transaction.

RIL subsidiary Reliance Industries Investment and Holding bought 21,315,000 shares of EIH (accounting for 3.73 per cent stake) for Rs 90 each valuing the deal to Rs 191.83 crore,according to information available with the stock exchanges.

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